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UnionPay is an international card association same as Visa, MasterCard and American Express. Apart from credit cards, UnionPay also issues prepaid cards and debit cards.

One of the main features of UnionPay cards is “0% foreign currency transaction fee” ( other credit cards usually charge around 2% ) that allows cardholders to shop oversea without extra cost. Besides, UnionPay dual currency credit cards can separate HKD and CNY transactions by offering two accounts in one card so that cardholders can enjoy flexible payment.

The main advantage of UnionPay credit cards is “0% foreign currency transaction fee” ( other credit cards usually charge around 2% ), which allows cardholders to shop oversea without extra cost. Besides, UnionPay also issues "dual currency credit cards" that can separate HKD and CNY transactions by offering two accounts in one card so that cardholders can enjoy flexible payment.

UnionPay credit cards issued in Hong Kong can be classified into 4 levels: classic card, gold card, platinum card and diamond card, while diamond card is the most premium one.

Cardholders of UnionPay Diamond Card can enjoy free access to Plaza Premium lounge up to 3 times a year and other exclusive offers, such as hotel dining discounts and movie ticket buy 1 get 1 free. Applicants with a minimum annual salary of HK$150,000 are able to apply.

Apart from the benefits offered by UnionPay as above mentioned, UnionPay credit cards issued by different banks will provide different kinds of additional offers, such as air miles, cashback, shopping discounts and welcome gifts. You can compare all of these at once on MoneyHero.com.hk and pick your best credit cards based on your expending habit.
UnionPay Card is widely used in mainland China. Even in Hong Kong, most of the chain stores also accept UnionPay payment. UnionPay is also accepted by large merchants in Japan, South Korea and many other Asian countries. Nevertheless, UnionPay is not that popular in Europe and the United States, it is recommended to bring a Visa or Mastercard credit card when traveling to these regions.
The foreign exchange rate of UnionPay is slightly worse than Visa and Mastercard. However, credit cards issued by Visa and Mastercard charge around 2% overseas transaction fee while UnionPay doesn't charge any. Taking it into account, Unionpay's overall rate will be better.

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